CarNext.com B2C sales up 50% with 17% run rate penetration of B2C sales

Results improvements from 'The Power of One LeasePlan' programme on track

Underlying return on equity up 63 bps to 16.3%, including impairments

Key numbers1

Q1 2018

Y-o-Y growth

Q1 2017

PROFITABILITY

Underlying net result (EUR million)

138.0*

-5.4%

145.9

Net result (EUR million)

133.3

-5.0%

140.3

Underlying return on equity

16.3%

15.7%

VOLUME

31 March 2018

31 March 2017

Serviced fleet (millions)

1.772

6.6%

1.661

# vehicles sold (k)

65

-8.4%

71

Tex Gunning, CEO of LeasePlan:

"We have delivered a strong result in Car-as-a-Service driven by growth across all Lease & Additional Services lines as well as the ongoing positive impact of 'The Power of One LeasePlan' operational excellence programme.

We have continued to invest in the business to lead the megatrend from ownership to subscription in the new and high-quality used car markets. We introduced our Click & Drive online service for the growing SME Car-as-a-Service segment. We launched our new CarNext.com platform in several markets, which drove sales up by 50% in the higher margin B2C segment compared to last year. We also began the rollout of our Digital LeasePlan initiative, which will bring our company firmly into the digital world, delivering digital services at digital cost levels supported by the latest digital intelligence technologies.

We are also continuing our strategy to be at the forefront of the transition to zero emission mobility, rolling out our end-to-end EV solution to several European markets over the quarter. This is an integral element of our commitment to achieve net zero emissions from our total fleet by 2030.

Our reported results have been reduced in the quarter by two impairment charges, namely on our Turkish fleet reflecting a steep depreciation of the Turkish lira, and in Germany related to certain loss-making contracts.

Looking ahead, we're well on track with the execution of our strategic roadmap to lead the industry."

[1]The information in this press release has not been audited. The condensed consolidated interim financial statements for the period ending 31 March 2018 have been reviewed.

[2] % refer to year-on-year growth unless otherwise stated

* Impairments were EUR 30 million before tax, EUR 23 million after tax.